Friday, April 11, 2014

Winter Blahs Gone.....Spring Has Arrived


Bye Bye
Winter!!!


  As anyone that has been in Hampton Roads for any length of time know, we suffered through one of the coldest, snowiest winters in some time.  The cold and snow was most prevalent in the January through March time frame.

When there wasn't snow or ice on the roads, it just simply was cold!

As our brothers and sisters up north and down south,  many of us hunkered down in our homes.  If we were out, we went to the movies, enclosed malls and any place were warmth could be found.

Thus, no one should be surprised car sales and homes sales lagged the 1st quarter of 2014.   You can clearly see impact on our local housing industr in the Summary of Settled Sales provided by the local Multiple Listing Service, REIN.

Yet, the last week to 10 days of Spring weather has already begun to turn the tide!!   We should see April show the more robust Spring Sales Time that
everyone expects.



REIN, Inc.
Settled Sales Summary Number of Units by Property Region (Through March 2014)

Month       Total Settled Sales                       Change  New Construction - Extract           Change
Year                                                              From                                                          From
                Southside     Peninsula         Total   2013        Southside    Peninsula    Total      2013
January
2012            885             274              1,159                     109             38            147
2013           1039            366              1,405                     153             32            185
2014            874            343               1,217    -13.38%   120             45            165    -10.81%

February
2012           1,032          305              1,337                       134            27            161
2013           1,052          344              1,396                       146            29            175
2014           1,022          347              1,369     -1.93%       124           30            154    -12.00%

March
2012           1,199          425              1,624                        147           49            196
2013           1,326          452              1,778                        173           37            210
2014           1,238          392              1,630    -8.32%         176          29            205        -2.38%

YTD        
Totals
2012           3,116        1,004             4,120                         390        114            504
2013           3,417        1,162             4,579                         478          98            570
2014           3,134        1,082             4,216     -1.93%        420        104            524       -8.07



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